T-Mall, e-commerce platform owned by Alibaba Group Holding Limited, could adopt blockchain technology for its cross-border chain according to local news outlet, Xinhua Wednesday.
This project, according to Xinhua will be done in partnership with Cainiao, a logistics company headquartered in Shenzhen and will focus on cross-border transactions. The goal is to transfer details of good for import and export to a digital ledger—that is, blockchain—so that they can easily be tracked. Information such as the country of origin, shipping port, arrival port, method of transport as well as customs details will all be recorded and tracked on the new blockchain platform.
Cainiao—also known as China Smart Logistic Network —has made significant progress in blockchain-based tracking systems since it was launched in 2013 by Alibaba alongside eight other companies. It was created to facilitate parcel deliveries between 2,000 of China’s major cities within 24 hours and has identified the use of blockchain technology as a key strategy to achieving this goal.
Through this partnership, consumers in regions covered by Cainiao will now be able to track information of over 30,000 goods from over 50 countries using Alibaba’s e-commerce mobile app. Cainiao services have covered major Chinese cities including Shanghai, Shenzhen, and Guangzhou.
After being hit by bad publicity regarding counterfeit products, Alibaba has taken several measures to restore consumer trust in its products; this includes partnerships with Lois Vuitton, Samsung, and PwC. The last, an agreement to fight food fraud using blockchain technology.
Alibaba’s T-Mall would become one of the many e-commerce platforms adopting blockchain. Japanese’ Rakuten announced plans to adopt a blockchain-powered loyalty system earlier this week.